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Heritage Bank Plc

“Can a mid-tier Nigerian commercial bank built through acquisitions survive Nigeria's banking consolidation pressure? (Answered no — license revoked 2024.)”

Founded2013
HQLagos, Nigeria
IndustryBank / National

The story

Heritage Bank Plc was a Nigerian commercial bank formed through the acquisition of Societe Generale Bank of Nigeria (2012) and Enterprise Bank Limited (2014-2015). It operated as a full-service Nigerian bank offering SME lending, corporate financing, and retail banking. In June 2024, the Central Bank of Nigeria revoked its banking license and the Nigeria Deposit Insurance Corporation was appointed as liquidator, effectively ending operations. The company is currently in liquidation.

Last 12 months

2024

CBN revoked Heritage Bank's banking license; NDIC appointed as liquidator to verify and pay insured deposits

Product timeline

2012

Acquired Societe Generale Bank of Nigeria (SGBN)· acquisition

2013

Heritage Banking Company Limited launched under CBN license· banking

2014

Acquired Enterprise Bank Limited (EBL) via AMCON-supervised bid· acquisition

2015

Business combination of HBC and EBL formed Heritage Bank Limited· banking

2024

CBN revoked banking license; NDIC appointed as liquidator· pivot

Acquisitions

Enterprise Bank Limited2014

Won AMCON-supervised bid for EBL; combined into Heritage Bank Limited in 2015

Societe Generale Bank of Nigeria2012

Acquired the former SGBN franchise, providing the foundation for Heritage Banking Company

Regulated entities

regulatory licence held by Heritage Bank Plc

Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.

The stack

1 layer disclosed in Heritage Bank Plc’s embedded-finance stack

Lending

Heritage Bank Plc (in-house)Paris Klub SME (PKS) SchemeSME lending without collateralCorporate financeMSME clinic

Accounting gap: none

Heritage Bank Plc — frequently asked

Who provides Heritage Bank Plc's lending?

Heritage Bank Plc's lending and capital products are provided by Heritage Bank Plc (in-house).

Where is Heritage Bank Plc headquartered?

Heritage Bank Plc is founded in 2013 and headquartered in Lagos, Nigeria.

What companies has Heritage Bank Plc acquired?

Heritage Bank Plc's acquisitions include Enterprise Bank Limited (2014) and Societe Generale Bank of Nigeria (2012).

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